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Neuronetics Announces Pricing of $30 Million Underwritten Public Offering of Common Stock

STIM
  • Neuronetics, Inc. priced an underwritten public offering of 18,750,000 shares of common stock at $1.60 per share, expected to generate approximately $30 million in gross proceeds.
  • The Company granted underwriters a 30-day option to purchase an additional 2,812,500 shares at the offering price less discounts.
  • Net proceeds will be used to repay a portion of the outstanding term loan with Perceptive Credit Holdings IV, LP, and for general corporate purposes including sales, marketing, research, development, acquisitions, inventory, working capital, and capital expenditures.
  • The offering is expected to close on or about November 12, 2026, subject to customary closing conditions.
  • An Amendment No. 6 to the Credit Facility entered into on November 5, 2026, requires a prepayment of at least $15 million by November 30, 2026, to reduce revenue covenants; failure to meet this condition will cause the amendment to automatically terminate.
  • Satisfaction of the conditions precedent for the Credit Facility amendment is anticipated to resolve the going concern risk referenced in recent Form 10-Q filings.
  • William Blair serves as the lead bookrunning manager, with BTIG and Canaccord Genuity acting as additional bookrunners.
  • The offering was made pursuant to a shelf registration statement filed on July 3, 2025, and declared effective on July 18, 2025.
  • Neuronetics operates the NeuroStar Advanced Therapy System for major depressive disorder and anxiety, while its subsidiary Greenbrook TMS Inc. operates a network of clinics offering TMS and SPRAVATO® therapies.
Company
Neuronetics
Keywords
Nasdaq:STIM, Neuronetics